The Military Money Manual Podcast After 200 Episodes, We Changed Our Minds On These Things #208
What have learned as we've recorded over 200 episodes now? What have we changed our minds about?
We reflect back on our years of podcasting, recording over 200 episodes with hundreds of positive reviews, hundreds of thousands of downloads, and hopefully countless military families helped.
In this milestone 200th episode, Spencer and Jamie sit down in person to reflect on four years of the Military Money Manual Podcast. From recording the first episode in a living room before a PCS to reaching hundreds of thousands of downloads, they discuss how their financial philosophies have evolved and the enduring principles that help military families build wealth.
Whether you are an E-1 just starting out or a seasoned O-5 approaching retirement, this episode covers the essential debates and strategies for achieving financial independence while serving.
Topics Covered:
- Hardening & Softening Stances: The hosts revisit controversial topics like the Roth vs. Traditional TSP debate, buying a home on active duty, and taking out TSP loans, discussing how their advice has shifted over 200 episodes.
- The "Olympic Athlete" Trap: Why you don't need to be the "Michael Phelps of personal finance" to succeed—and why a simple, consistent plan beats trying to optimize every single variable.
- Financial Independence (FI): Defining FI not just as early retirement, but as having options—the freedom to leave a job you hate, take a lower-paying passion project, or simply not stress about bills.
- Credit Cards & Benefits: A reminder on maximizing military-specific perks, like waived annual fees on premium cards (Amex Platinum, Chase Sapphire Reserve) and using them responsibly to travel for free.
- Crypto & Alternative Assets: Why they still view cryptocurrency as "gambling" rather than investing, and why boring, low-cost index funds remain the king of wealth building.
- Leadership & Mentorship: The critical role of NCOs and officers in guiding troops toward financial literacy and how financial readiness directly impacts mission readiness.
Key Takeaways:
- You Are the Captain: Don't let the military dictate your financial future. Take ownership of your TSP, your savings, and your career path.
- The 4% Rule: Why a 4% withdrawal rate is a solid baseline for financial independence, but flexibility is key.
- Emergency Funds are Non-Negotiable: Government shutdowns and unexpected expenses happen; cash reserves are your first line of defense.
Resources Mentioned:
- The Military Money Manual book
- Thrift Savings Plan (TSP) Funds (C, S, and I Funds)
- Dave Ramsey's Baby Steps (and where they agree/disagree)
Spencer and Jamie offer one-on-one Military Money Mentor sessions. Get your personal military money and personal finance questions answered in a confidential coaching call. militarymoneymanual.com/mentor
Over 20,000 military servicemembers and military spouses have graduated from the 100% free course available at militarymoneymanual.com/umc3
In the Ultimate Military Credit Cards Course, you can learn how to apply for the most premium credit cards and get special military protections, such as waived annual fees, on elite cards like The Platinum Card® from American Express and the Chase Sapphire Reserve® Card.
Learn how active duty military, military spouses, and Guard and Reserves on 30+ day active orders can get your annual fees waived on premium credit cards in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3
If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com.
Want to be confident with your TSP investing? Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE!
If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual.